In today’s marketplace, there are a multitude of metrics market participants can use to track Mr. Market. Two of the best are hedge fund and insider trading movement. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the best hedge fund managers can outclass the market by a solid margin (see just how much).
Equally as necessary, bullish insider trading sentiment is another way to look at the financial markets. As the old adage goes: there are a number of incentives for an insider to downsize shares of his or her company, but only one, very clear reason why they would buy. Plenty of academic studies have demonstrated the useful potential of this strategy if investors understand where to look (learn more here).
What’s more, we’re going to discuss the latest info about Hercules Offshore, Inc. (NASDAQ:HERO).
How are hedge funds trading Hercules Offshore, Inc. (NASDAQ:HERO)?
At the end of the second quarter, a total of 24 of the hedge funds we track were long in this stock, a change of 26% from the previous quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists a select group of noteworthy hedge fund managers who were boosting their holdings meaningfully.
According to our 13F database, D E Shaw, managed by D. E. Shaw, holds the most valuable position in Hercules Offshore, Inc. (NASDAQ:HERO). D E Shaw has a $21.7 million position in the stock, comprising less than 0.1%% of its 13F portfolio. The second largest stake is held by Citadel Investment Group, managed by Ken Griffin, which held a $19.3 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Remaining hedge funds that hold long positions include Jim Simons’s Renaissance Technologies, Israel Englander’s Millennium Management and Chuck Royce’s Royce & Associates.
With a general bullishness amongst the titans, certain bigger names were leading the bulls’ herd. D E Shaw, managed by D. E. Shaw, assembled the most outsized position in Hercules Offshore, Inc. (NASDAQ:HERO). D E Shaw had 21.7 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also made a $19.3 million investment in the stock during the quarter. The other funds with brand new HERO positions are Jim Simons’s Renaissance Technologies, Israel Englander’s Millennium Management, and Chuck Royce’s Royce & Associates.
How have insiders been trading Hercules Offshore, Inc. (NASDAQ:HERO)?
Bullish insider trading is most useful when the company we’re looking at has seen transactions within the past six months. Over the last 180-day time period, Hercules Offshore, Inc. (NASDAQ:HERO) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We’ll also review the relationship between both of these indicators in other stocks similar to Hercules Offshore, Inc. (NASDAQ:HERO). These stocks are Bill Barrett Corporation (NYSE:BBG), W&T Offshore, Inc. (NYSE:WTI), Crestwood Midstream Partners LP (NYSE:CMLP), Key Energy Services, Inc. (NYSE:KEG), and Seadrill Partners LLC (NYSE:SDLP). All of these stocks are in the oil & gas drilling & exploration industry and their market caps match HERO’s market cap.
